Farstad Shipping ASA – Charter Agreement

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Woodside Energy Ltd. has awarded the AHTS Far Senator (2013, UT 731 CD, 24,371 BHP) a 17 month contract plus options with expected commencement in June 2016.

The commercial terms are confidential between the parties.

Contacts:

CEO Karl-Johan Bakken –  tel. +47 901 05 697

CFO Torstein L. Stavseng – tel. +47 911 07 001

Farstad Shipping’s fleet currently consists of 57 vessels (29 AHTS, 22 PSV and 6 SUBSEA) and 1 SUBSEA vessel under construction. The company’s operations are managed from Aalesund, Melbourne, Perth, Singapore, Macaé and Rio de Janeiro with a total of 2,100 employees engaged onshore and offshore. The company’s strategy is to be a leading quality provider of large, modern offshore service vessels to the oil industry.

www.farstad.com